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As a sales manager, one of your jobs is to impress upon reps the importance of building trust. They have to earn it with every call, email and action. It is their job to turn a good first impression into a strong sense of trust.
In 2015 U.S. jeweler Tiffany & Co. obtained a judgment of more than $21 million against price-club retailer Costco from a New York federal court for selling unbranded diamond engagement rings identified by point-of-sale signs containing the word “Tiffany.”
The way forward for luxury brands in this new and different era will be determined by five key cultural shifts.
If your business is on the verge of collapsing, accepting that it needs to evolve may just breathe new life to it.
As marketers re-evaluate post-pandemic marketing, forming an influencer “brand tribe” has proven to deliver dramatic results in driving shopper marketing, passionate advocacy and increased organic reach.
Luxury and specialty goods stores will need to become both a showroom and a sample space where both experiences are more curated for each individual.
Consumers in lower-tier Chinese cities typically are entrepreneurs who have grown local businesses, made successful stock or property investments, and – this is the reality – are participants in the “grey” economy.
Through artificial intelligence, we can create machines that perform tasks much faster than humans and, at some point – when they have learned human behavior – can replace humans completely.
Personal consumption makes up over two-thirds of U.S. GDP and it dropped even more precipitously, down 34.6 percent on an annualized basis. This quarter marks the economy’s worse since the government started calculating GDP over 70-odd years ago.
There is no question that all major luxury brands have experienced sales and profits declines in the past few months of the public health crisis.
Luxury is one of a handful of categories in which online sales were lower at the end of May than they were in mid-March.
It is unlikely there is a CEO in America unaffected by the COVID-19 pandemic and all are probably sick and tired of reading introductions like, “We’re all in this together,” or “In light of these trying times.” Yeah, everyone agrees.
“What you say is not as important as the bookcase behind you,” is a tagline of a Twitter account titled Bookcase Credibility. Bookcase Credibility was launched in April 2020 and has since amassed more than 105,000 followers.
The price for retailers over-building, overextending and overestimating their importance in the lives of customers has now come due after the disruption caused by the COVID-19 pandemic.
What does partnership marketing look like in this new normal and how do we go about negotiating partnerships when we cannot even shake hands?
Mainland China is the biggest hope for luxury in the coming years. Its innovators are already spooking Silicon Valley.
Hong Kong, this bustling metropolis, is now in a transition period, facing both challenges and opportunities that will redesign the future of the city in the years to come.
In 2019, close to 2 billion people purchased items online — but most of the sellers of art, vintage and antiques lost out. Why? Because the vast majority of the art and antiques industry is not online.
We have heard several feel-good stories and attempts by Amazon to enter the luxury market. But it is doubtful that, without real change, Amazon will earn the trust it needs from luxury brands.
More than half of customers actively try to touch as few items as possible when shopping and try to avoid interacting with employees whenever possible – a troubling trend for the luxury sector, where touch and feel are everything and personal relationships are critical.
How art-ification became a lucrative corporate strategy.
